Can you make a living betting on football?

Is it possible to make a living soccer betting?

Yes
202
51%
No
196
49%
 
Total votes: 398
RACHACE
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Re: Can you make a living betting on football?

Postby RACHACE » Sun Jan 01, 2017 5:53 pm

Is it worthwhile trying to make a living betting on football? What kind of return on investment does anybody expect to be making before they'd even consider trying to make a living betting on football?
Read my blog on Watford v MANCHESTER CITY
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Re: Can you make a living betting on football?

Postby Crofty11 » Mon Jan 02, 2017 2:26 pm

Return on investment is an interesting question. I am retired but not old enough for my state pension. So i live off my savings. some pension some isa etc. So no income being earned from 'working'.

So I have my 'bank' and i invest for a return to pay my monthly allowance.

In general there are a couple of key drivers to my approach( that have been hard earned through losses).

1. How much of my bank can I afford to lose or plan to spend in a year. In my case it is about 5 to 7.5% for 5 years and then my state pension starts. So hopefully at 66 my bank will still be about 60 to 70% intact. But clearly i could afford for it to go down a bit more, if I wanted my bank to stay the same or increase, then i would clearly need to get a higher return on my investments.

When i considered many years ago the question 'can you make living from gambling' i did not consider the need for a large enough bank, EG. Say you need an 'income' that equals 10,000 pounds ( your bank is say 100,000 pounds to make the point), and you have two years of marginal or no returns, then the bank is reduced to 80,000 pounds.. So now I am faced with getting a much bigger return from a smaller bank. Extremely difficult. This then leads on to something that has taken me all of my life to get my head around( me being a gambler)

2. The single most important thing is IMO, protecting my capital IE my bank. This means that risk management is paramount and that one must lose a gamblers (or my view of the world), that you have to take some losses to get winners. So this leads to a completely different approach. In this situation, Staking 2 or 3 % of your bank is a massive risk, 3 or 4 losing bets in a row and you have lost 8-10% of your bank. ( no worries if you are a recreational gambler but if you are doing it for a living a disaster ). This then means that you need to reduce stakes , however to earn your return you then need to increase the number of bets that you make. Which then leads to a different betting approach, bots on the exchanges being an example.

4 I used to think that i could start of with a relatively small bank, say 1 or 2 years income requirement, and i would be able to keep it topped up alas for me that was pie in the sky thinking. I imagined i would never be in the position of making no or marginal returns, now i smile at my naivety of youth!!

So in conclusion if you have a big enough bank to be able to think about 'making a living through betting on football, IMO you would be better off not doing that , investing it elsewhere and bet on football for recreation. If you haven't got a big enough bank to support your lifestyle through two or three years of marginal returns then don't do it.

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Re: Can you make a living betting on football?

Postby nors » Thu Jan 19, 2017 9:43 am

Good post Crofty11.

As mentioned above why not try and make a living this week from betting on football? You are then only commiting for a short period of time, if it goes well then you can try and replicate in future weeks, if it goes badly you can stop or try another tactic. Obviously only bet what you can afford.

You can paper (virtual) trade in the tipping competition if you want to test your skills with no risk. But we all know that virtual and real betting are different animals. In virtual betting you are likely to take more risks.

For most betting on football is just for an interest or a bit of fun or backing your team, and although making a living is desirable there are some huge (impossible?) hurdles to overcome.

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Re: Can you make a living betting on football?

Postby Inquisitorem » Fri Jan 20, 2017 2:49 pm

Afternoon All!

Just joined, and this is a great topic to kick-off with. It's what brought me to the site / forum in the first place. I'm currently exploring this idea.

For me, I need to find a systematic approach to selecting first. I don't know about anybody else, but I need serious rules of engagement. Not just to ensure a much needed disciplined approach, but to sustain confidence and a measure of certainty during form dips.

Before I found OLBG, I happened across a site called Tip Exchange. I thought that would be a good platform to experiment on, but it doesn't really cater for the markets that interest me most ( the safer ones ), like 'Asian Handicap 0' and 'Draw No Bet'. However, due to its links with Betfair, it did allow me to back AND Lay. So started to back system qualifiers and Lay their opponents ( to cover the draw ). Only interested in teams that were odds against, or playing against teams that were 3/1 or less. Having an 'odds' criteria allowed me to work out what kind of strike rate I needed to profit long term. It's early days, but it's ticking along nicely. Although, nothing to get excited about yet.
As so many of you have already rightly pointed out, it requires a sizeable start-up bank and a serious set of steely ones, I feel.

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Re: Can you make a living betting on football?

Postby nors » Thu Feb 02, 2017 8:55 am

How did January pan out for football tipsters? Have you altered your betting style to try and increase profits, have you expanded or cut out accumulators? have you moved away from singles? Is there a football market that worked for you?

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Re: Can you make a living betting on football?

Postby Inquisitorem » Thu Feb 02, 2017 9:35 am

The gains have been marginal, to be honest. I tend to get one very good week in a month when everything clicks, and the rest just tread water (up and down in small measures).
I have been inspired by different things on here, and in the context of the thread, I have actually started to work on a systematic way to play accumulators. I mean, a method for landing one big bet a season. Is there something that will deliver something huge just once or twice a season?

I'm still very much a 'singles' bettor, but have started to move back through 5 months of Racing & Football Outlook to test some accumulator ideas on a sizeable sample. I think, for the most part, because I find it stimulating. Joseph Buchdahl would put this down to the incredible dopamine hit this journey will give me (happy hormone released in the body, linked to reward uncertainty). Who am I to fight it?

Sitting here with a cappuccino and rich tea biscuit. The kind of biscuit, even a frothy dunk couldn't sex up!
But, against all odds, very excited about the possibilities moving forward.
Football research with serious intent, but not without a sense of humour. Share in my good fortune or, at the very least, have a laugh at my expense!

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Re: Can you make a living betting on football?

Postby nors » Thu Feb 02, 2017 10:06 am

For the last 8 month or so on football tipping (horse racing has been terrible) i have 8 months of small profits. Mainly gained on short priced Asian Handicap or Double chance bets, nearly always being against the favourites. I am hoping over the year i can have 12 months of profits. I have found these markets work well for me when i think the fav is underpriced. I do need to do some checking on whether the 1x2 market would have been more lucrative had i taken the bigger odds.

E.G I cant see the fav XXX team winning so go for the double chance, XXX dont win and it ends up as a draw, would i have been better off selecting the draw from a return point of view over all my bets OR backing the underdog. But being risk averse i tend to favour the safer but less lucrative double chance.

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Re: Can you make a living betting on football?

Postby Inquisitorem » Thu Feb 02, 2017 11:57 am

In submitting qualifiers to Tip Exchange, I was unable to choose from most of the popular markets. So ended up backing the selection, and laying the opponent. So I had two ways of winning or losing. The risk/returns pretty much equate to DrawNoBet. I would only play odds against qualifiers, and Lay the opponents if they were 3/1 or less. But what has been interesting is that both backing and laying have made a profit independently.
Football research with serious intent, but not without a sense of humour. Share in my good fortune or, at the very least, have a laugh at my expense!

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Re: Can you make a living betting on football?

Postby nors » Mon Feb 06, 2017 1:34 pm

The Poll is 50-50 on Can you make a living betting on football.

This tipster is top of the Premier league Tipping Competition on OLBG this month, with a good profit.

https://www.olbg.com/tipster/history.php?id=308797

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Re: Can you make a living betting on football?

Postby nors » Wed Apr 19, 2017 12:25 pm

Any newer members want to add to the Can You Make A Living Betting On Football thread?

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Re: Can you make a living betting on football?

Postby Pimpelmees » Wed Apr 19, 2017 1:32 pm

Any newer members want to add to the Can You Make A Living Betting On Football thread?
Betting a couple of years. Originally played much poker in the past. Its just like investments, you need to know en follow the economical markets. With sports its the same. 5% ROI overall should be possible.
Think making a living with Poker is more likely however...

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Re: Can you make a living betting on football?

Postby chrisaiks » Wed Apr 19, 2017 2:20 pm

In my view yes you can making a reasonable living from sports betting. The problem with humans is just that we are too much greedy.Thats just the point.
A living can be made out of betting.

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